VARE
ActiveSummary
VARE has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34,028 and a net result of €32,883. Equity is growing by ~66.1% per year across the filed fiscal years. Its solvency ranks better than 10% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability41▼-5
Solvency27▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.69 against 0.54 in 2024; short-term debt: 9.2% and cash: 2.4% of total assets), and 98.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
1.6%
Return on assets
1.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 8737 sector peers (2025).
NBB · sector comparisonPosition among 8737 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-07-2026, 5 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
5 d early
2024
19 d early
2023
48 d late
2022
28 d late
2021
24 d late
2020
106 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 30 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€94,285
EBIT margin
-28.5%
Net result
€32,883▼ 27.1%
2024 · €45,111
Working capital
-€59,568▲ 6.6%
2024 · -€63,784
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€94,285
Operating result-€26,868▲ 44.8%€21,427€31,961▲ 49.2%€19,141▼ 40.1%€4,941▼ 74.2%
Net result-€42,133▲ 24.1%€6,871€28,185▲ 310%€45,111▲ 60.1%€32,883▼ 27.1%
EBIT margin-28.5%
Equity-€79,021▼ 114%-€72,151▲ 8.7%-€43,966▲ 39.1%€1,145€34,028▲ 2,872%
Total assets€985,840▼ 3.1%€982,141▼ 0.4%€2.1m▲ 111%€2.1m▲ 0.5%€2.1m▲ 1.5%
Debt€1.1m▲ 1.0%€1.1m▼ 1.0%€2.1m▲ 101%€2.1m▼ 1.6%€2.1m▼ 0.1%
Working capital-€230,479▼ 31.6%-€95,371▲ 58.6%-€87,134▲ 8.6%-€63,784▲ 26.8%-€59,568▲ 6.6%
Staff (FTE)000
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2023 Total assets +111% on 2022. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 74% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.1m
Fixed assets
€2.0m ▼ 1.5%
Current assets
€135,224 ▲ 81.6%
Equity and liabilities €2.1m
Equity
€34,028 ▲ 2,872%
Debt
€2.1m ▼ 0.1%
Debt's share of the balance-sheet total falls from 99.9% to 98.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€54,881▼
2024 · €69,884
Cash flow
€82,822▼
2024 · €95,855
Current ratio
0.69▲
2024 · 0.54
Quick ratio
0.66▲
2024 · 0.49
Debt to equity
61.19
ROE
96.6%
ROA
1.6%▼
2024 · 2.2%
Interest coverage
2.48▼
2024 · 2.97
Debt ≤ 1 year
€194,792▲
2024 · €138,264
Debt > 1 year
€1.9m▼
2024 · €1.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €94,285 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €80,255 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,278 | €47,409 | €50,354 | €50,744 | €49,939 | ▼ 1.6% |
| Other operating charges640/8 | €16,584 | €2,918 | €3,202 | €3,305 | €4,150 | ▲ 25.6% |
| Gross operating margin9900 | €34,995 | €71,754 | €85,517 | €73,189 | €59,030 | ▼ 19.3% |
| Operating profit (loss)9901 | -€26,868 | €21,427 | €31,961 | €19,141 | €4,941 | ▼ 74.2% |
| Financial income75/76B | €0 | €0 | €18,452 | €49,464 | €50,048 | ▲ 1.2% |
| Recurring financial income75 | €0 | €0 | €18,452 | €49,464 | €50,048 | ▲ 1.2% |
| Financial charges65/66B | €15,265 | €14,557 | €22,228 | €23,493 | €22,107 | ▼ 5.9% |
| Recurring financial charges65 | €15,265 | €14,557 | €22,228 | €23,493 | €22,107 | ▼ 5.9% |
| Profit (loss) for the period before taxes9903 | -€42,133 | €6,871 | €28,185 | €45,111 | €32,883 | ▼ 27.1% |
| Income taxes67/77 | - | - | €1 | €0 | - | - |
| Profit (loss) for the period9904 | -€42,133 | €6,871 | €28,185 | €45,111 | €32,883 | ▼ 27.1% |
| Profit (loss) for the period to be appropriated9905 | -€42,133 | €6,871 | €28,185 | €45,111 | €32,883 | ▼ 27.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €985,840 | €982,141 | €2.1m | €2.1m | €2.1m | ▲ 1.5% |
| Fixed assets21/28 | €975,698 | €961,675 | €2.0m | €2.0m | €2.0m | ▼ 1.5% |
| Tangible fixed assets22/27 | €975,613 | €961,590 | €921,629 | €877,016 | €846,637 | ▼ 3.5% |
| Land and buildings22 | €947,322 | €928,535 | €890,253 | €846,605 | €811,863 | ▼ 4.1% |
| Plant, machinery and equipment23 | €1,786 | €1,118 | €4,008 | €4,294 | €9,494 | ▲ 121% |
| Furniture and vehicles24 | €22,918 | €18,350 | €13,781 | €9,634 | €7,798 | ▼ 19.1% |
| Other tangible fixed assets26 | €3,587 | €13,587 | €13,587 | €16,483 | €17,483 | ▲ 6.1% |
| Financial fixed assets28 | €85 | €85 | €1.1m | €1.1m | €1.1m | = |
| Current assets29/58 | €10,142 | €20,466 | €31,392 | €74,480 | €135,224 | ▲ 81.6% |
| Stocks and contracts in progress3 | - | - | - | €7,259 | €7,259 | = |
| Stocks30/36 | - | - | - | €7,259 | €7,259 | = |
| Amounts receivable within one year40/41 | €602 | €7,470 | €25 | €3,340 | €75,136 | ▲ 2,149% |
| Trade receivables40 | €602 | €7,469 | €0 | €3,332 | €1,000 | ▼ 70.0% |
| Other amounts receivable41 | - | €1 | €25 | €8 | €74,136 | ▲ 896,345% |
| Cash at bank and in hand54/58 | €8,663 | €12,035 | €30,533 | €62,710 | €51,643 | ▼ 17.6% |
| Deferred charges and accrued income490/1 | €878 | €961 | €835 | €1,171 | €1,186 | ▲ 1.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €985,840 | €982,141 | €2.1m | €2.1m | €2.1m | ▲ 1.5% |
| Equity10/15 | -€79,021 | -€72,151 | -€43,966 | €1,145 | €34,028 | ▲ 2,872% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | - | - | - | - | €15,428 | - |
| Distributable reserves133 | - | - | - | - | €15,428 | - |
| Profit (loss) carried forward14 | -€97,621 | -€90,751 | -€62,566 | -€17,455 | €0 | ▲ 100% |
| Amounts payable17/49 | €1.1m | €1.1m | €2.1m | €2.1m | €2.1m | ▼ 0.1% |
| Amounts payable after more than one year17 | €824,240 | €938,455 | €2.0m | €1.9m | €1.9m | ▼ 3.0% |
| Financial debts170/4 | €821,870 | €931,350 | €2.0m | €1.9m | €1.9m | ▼ 3.1% |
| Other amounts payable178/9 | €2,370 | €7,105 | €5,110 | €8,405 | €8,625 | ▲ 2.6% |
| Amounts payable within one year42/48 | €240,621 | €115,837 | €118,527 | €138,264 | €194,792 | ▲ 40.9% |
| Current portion of amounts payable after more than one year42 | €39,854 | €40,520 | €57,641 | €59,107 | €60,621 | ▲ 2.6% |
| Trade debts44 | €4,931 | €17,101 | €33,528 | €30,366 | €39,095 | ▲ 28.7% |
| Suppliers440/4 | €4,931 | €17,101 | €33,528 | €30,366 | €39,095 | ▲ 28.7% |
| Advances received on contracts in progress46 | - | - | - | €2,025 | €925 | ▼ 54.3% |
| Taxes, remuneration and social security45 | €1,228 | €4,094 | €2,951 | €3,913 | €1,505 | ▼ 61.5% |
| Taxes450/3 | €1,228 | €4,094 | €2,951 | €3,913 | €1,505 | ▼ 61.5% |
| Other amounts payable47/48 | €194,607 | €54,122 | €24,407 | €42,854 | €92,647 | ▲ 116% |
| Accrued charges and deferred income492/3 | - | - | €5,250 | €5,250 | €5,250 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€42,133 | €6,871 | €28,185 | €45,111 | €32,883 | ▼ 27.1% |
| + Depreciation and write-downs630 | €45,278 | €47,409 | €50,354 | €50,744 | €49,939 | ▼ 1.6% |
| Operating cash flow (approximation) | €3,145 | €54,280 | €78,539 | €95,855 | €82,822 | ▼ 13.6% |
| Investment in fixed assets (approximation) | - | -€33,387 | -€1.1m | -€17,987 | -€19,561 | ▼ 8.8% |
| Change in cash | - | €3,372 | €18,499 | €32,177 | -€11,066 | ▼ 134% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
12-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2020net €45,111 ▲60.1%
Net result €45,111, the highest in the series.
17-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 48 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Back to profitnet €6,871
Net result €6,871 after 2 loss-making years.
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 24 days late
2021
14-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 106 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Heist-op-den-Berg · 1 establishment unit since 2019
Ground area
502 m²
Building footprint
120 m²
Volume, LiDAR
114 m³
Parcel 12017B0456/00H002, Flanders · tallest building 10.3 m. Linked by address, not a title deed.
1 establishment unit
VARE
since 20192.285.215.971
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12017B0456/00H002 | Flanders | 502 m² | 1 · 120 m² | 10.3 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
4 holdingsOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 4
-
100%
-
100%
-
12.6%
-
12.3%
According to the 2025 annual accounts of VARE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 35,426 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-02-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68110Buying and selling of own real estate
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0720588452
Also
9925:BE0720588452
Registered
06-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.